The men who caused the Great Recession

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No one person can be blamed for our great recession, but if one had to name a few of the most notorious, Alan Greenspan, Robert Rubin and Larry Summers would make the list.


Not surprising that TIME magazine had them on its cover as the  "committee to save the world". That should read "Committee to Inflate the Next Bubble".

This cover is from the  Fed 15, 1999 issue  (HT: James Grant's book "Mr. Market Miscalculates")

Yet, in 2009, Larry Summer was back on Obama's team to help with economic policy.

Some people joke that this type of pop-magazine cover is a contrarian sign.







Now, The Atlantic brings us this cover, depicting the latest savior.

If history repeats itself, 10 years from now his name will be mud too.


(For a 2006 view on Greenspan's legacy, check out this article by Richard Salsman.)










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